Claims for financial support may be deemed fraudulent if the company was already in trouble when making claims and then later enters into an insolvency process. Insolvency practitioners (IPs) have been advised to remain alert to potentially...
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Leading UK business groups and insolvency experts yesterday advised the Government to reconsider its plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies from 6 April 2020. In a joint statement distributed...
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The Insolvency Service has released company insolvency statistics for Q4 September to December 2019 for England and Wales, showing an increase in underlying company insolvencies for the year to their highest levels since 2013. Main messages from...
Read more...Moore Stephens an accounting and advisory network has published a report quoting there has been a 10% rise in the number of businesses liquidated in 2018. With an increase from 13,010 cases in 2017 to 14,270 in 2018, there is a clear...
Read more...It’s been a tough few weeks with individuals having to file their Tax Returns and pay their dues, sometimes receiving a bill for more than anticipated. Getting help and advice early on could help with damage limitation if you are finding...
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Carillion was managing hundreds of public/private projects in the transport, health, education, defence and construction sectors. Being the second largest construction company in the UK, the unexpected collapse of Carillion shall give raise to...
Read more...When the decision is taken to liquidate, it is a reluctant acceptance that nothing more can be done. Employees face redundancy, quite often, without notice. To find oneself unemployed without any notice and, subsequently without an income, can be...
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Once made bankrupt, the Official Receiver becomes the Trustee to deal with the bankruptcy estate. All of your assets vest with the Trustee in the bankruptcy. Although Mr Becker claims that he has means to repay the debt, the bankruptcy shall...
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The veteran tennis champion Boris Becker has been declared bankrupt following a catalogue of financial problems going back several years. Becker’s remaining assets and property will be disposed of to pay off his creditors following the bankruptcy...
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Case Study – Bankruptcy Restrictions Order. 12-year bankruptcy restriction given after man received £8.5million from investors for failed spread betting scheme. What is a Bankruptcy Restriction Order (“BRO”)? Firstly what is a bankruptcy...
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